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Vehicle Loan<\/p>
PURPOSE<\/strong><\/p><\/td>
1. Purchase of Vehicle for self \/business use-new\/second hand vehicle not more than 5 years old.<\/p><\/td><\/tr>
ELIGIBILITY<\/strong><\/p><\/td>
Individuals holding valid license.<\/p><\/td><\/tr>
MAX.LOAN AMT.<\/strong><\/p><\/td>
As per exposure norms.<\/p><\/td><\/tr>
RATE OF INTEREST<\/strong><\/p><\/td>
8.25% p.a. at monthly rests for Two Wheeler.<\/p>
7.75% p.a. at monthly rests for Four Wheeler.
\u00a0<\/p>
10.25% p.a. at monthly rests for Commercial Vechile<\/p><\/td><\/tr>
TENURE<\/strong><\/p><\/td>
Maximum 60 months-EMI.<\/p><\/td><\/tr>
MODE OF REPAYMENT<\/strong><\/p><\/td>
PDCS\/ECS\/THRU ACCOUNTS.<\/p><\/td><\/tr>
COST ELIGIBILITY<\/strong><\/p><\/td>
Pro-forma invoice for new vehicles.<\/p><\/td><\/tr>
Valuation report for second hand vehicles.<\/p><\/td><\/tr>
MARGIN<\/strong><\/p><\/td>
10% for new vehicles & 50% for second hand vehicles.<\/p><\/td><\/tr>
AMT.ELIGIBILITY<\/strong><\/p><\/td>
90% for new vehicles & 50% for second hand vehicles.<\/p><\/td><\/tr>
INCOME ELIGIBILITY<\/strong><\/p><\/td>
Total deductions should not more than 65 % of the gross salary including the proposed EMI for the loan.<\/p><\/td><\/tr>
DURATION OF SERVICE\/ BUSINESS<\/strong><\/p><\/td>
Salaried \u2013 3 years confirmed service.<\/p><\/td><\/tr>
Business\/Professional-3 years.<\/p><\/td><\/tr>
PRIMARY SECURITY<\/strong><\/p><\/td>
Hypothecation of vehicle to be purchased out of bank finance.<\/p><\/td><\/tr>
COLLATERAL SECURITY<\/strong><\/p><\/td>
On case to case basis.<\/p><\/td><\/tr>
GUARANTORS<\/strong><\/p><\/td>
Two guarantors of good means acceptable to the bank.<\/p><\/td><\/tr>
REQUIREMENTS<\/strong><\/p><\/td>
1. Loan application form.<\/p><\/td><\/tr>
2. Borrowers and guarantors-3 years I.T. returns for business and Form 16 in case of salaried persons.<\/p><\/td><\/tr>
3. Borrowers\/guarantors-6 months\u2019 salary certificate in case of salaried persons.<\/p><\/td><\/tr>
4. Account to be opened fulfilling the KYC norms\/ KYC norms for guarantors to be complied with.<\/p><\/td><\/tr>
5. Borrowers\/Guarantors- Bank statement for last 6 months of them applicants existing bankers.<\/p><\/td><\/tr>
6. Pro-forma invoice in case of new vehicles.<\/p><\/td><\/tr>
7. Valuation report in case of second hand vehicles.<\/p><\/td><\/tr>
8. Payment Receipt for the advance paid.<\/p><\/td><\/tr>
9. R.C. book duly notifying our bank\u2019s lien on disbursement of loan.<\/p><\/td><\/tr>
10. Insurance for the invoice amount with our bank\u2019s lien noted therein.<\/p><\/td><\/tr>
11. Receipt of the entire amount paid (including bank finance).<\/p><\/td><\/tr>
OTHER CONDITIONS<\/strong><\/p><\/td>
Borrowers\/Guarantors should have satisfactory track record and should not be an NPA with any other banks\/FI.<\/p><\/td><\/tr><\/tbody><\/table>
** Terms & Conditions applied.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/body>","protected":false},"excerpt":{"rendered":"
Vehicle Loan PURPOSE 1. Purchase of Vehicle for self \/business use-new\/second hand vehicle not more than 5 years old. ELIGIBILITY Individuals holding valid license. MAX.LOAN AMT. As per exposure norms. RATE OF INTEREST 8.25% p.a. at monthly rests for Two Wheeler. 7.75% p.a. at monthly rests for Four Wheeler.\u00a0 10.25% p.a. at monthly rests for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-158","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":4,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158\/revisions"}],"predecessor-version":[{"id":300,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158\/revisions\/300"}],"wp:attachment":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/media?parent=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

PURPOSE<\/strong><\/p><\/td>	1. Purchase of Vehicle for self \/business use-new\/second hand vehicle not more than 5 years old.<\/p><\/td><\/tr>
ELIGIBILITY<\/strong><\/p><\/td>	Individuals holding valid license.<\/p><\/td><\/tr>
MAX.LOAN AMT.<\/strong><\/p><\/td>	As per exposure norms.<\/p><\/td><\/tr>
RATE OF INTEREST<\/strong><\/p><\/td>	8.25% p.a. at monthly rests for Two Wheeler.<\/p> 7.75% p.a. at monthly rests for Four Wheeler. \u00a0<\/p> 10.25% p.a. at monthly rests for Commercial Vechile<\/p><\/td><\/tr>
TENURE<\/strong><\/p><\/td>	Maximum 60 months-EMI.<\/p><\/td><\/tr>
MODE OF REPAYMENT<\/strong><\/p><\/td>	PDCS\/ECS\/THRU ACCOUNTS.<\/p><\/td><\/tr>
COST ELIGIBILITY<\/strong><\/p><\/td>	Pro-forma invoice for new vehicles.<\/p><\/td><\/tr>
Valuation report for second hand vehicles.<\/p><\/td><\/tr>
MARGIN<\/strong><\/p><\/td>	10% for new vehicles & 50% for second hand vehicles.<\/p><\/td><\/tr>
AMT.ELIGIBILITY<\/strong><\/p><\/td>	90% for new vehicles & 50% for second hand vehicles.<\/p><\/td><\/tr>
INCOME ELIGIBILITY<\/strong><\/p><\/td>	Total deductions should not more than 65 % of the gross salary including the proposed EMI for the loan.<\/p><\/td><\/tr>
DURATION OF SERVICE\/ BUSINESS<\/strong><\/p><\/td>	Salaried \u2013 3 years confirmed service.<\/p><\/td><\/tr>
Business\/Professional-3 years.<\/p><\/td><\/tr>
PRIMARY SECURITY<\/strong><\/p><\/td>	Hypothecation of vehicle to be purchased out of bank finance.<\/p><\/td><\/tr>
COLLATERAL SECURITY<\/strong><\/p><\/td>	On case to case basis.<\/p><\/td><\/tr>
GUARANTORS<\/strong><\/p><\/td>	Two guarantors of good means acceptable to the bank.<\/p><\/td><\/tr>
REQUIREMENTS<\/strong><\/p><\/td>	1. Loan application form.<\/p><\/td><\/tr>
2. Borrowers and guarantors-3 years I.T. returns for business and Form 16 in case of salaried persons.<\/p><\/td><\/tr>
3. Borrowers\/guarantors-6 months\u2019 salary certificate in case of salaried persons.<\/p><\/td><\/tr>
4. Account to be opened fulfilling the KYC norms\/ KYC norms for guarantors to be complied with.<\/p><\/td><\/tr>
5. Borrowers\/Guarantors- Bank statement for last 6 months of them applicants existing bankers.<\/p><\/td><\/tr>
6. Pro-forma invoice in case of new vehicles.<\/p><\/td><\/tr>
7. Valuation report in case of second hand vehicles.<\/p><\/td><\/tr>
8. Payment Receipt for the advance paid.<\/p><\/td><\/tr>
9. R.C. book duly notifying our bank\u2019s lien on disbursement of loan.<\/p><\/td><\/tr>
10. Insurance for the invoice amount with our bank\u2019s lien noted therein.<\/p><\/td><\/tr>
11. Receipt of the entire amount paid (including bank finance).<\/p><\/td><\/tr>
OTHER CONDITIONS<\/strong><\/p><\/td>	Borrowers\/Guarantors should have satisfactory track record and should not be an NPA with any other banks\/FI.<\/p><\/td><\/tr><\/tbody><\/table> ** Terms & Conditions applied.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/body>","protected":false},"excerpt":{"rendered":" Vehicle Loan PURPOSE 1. Purchase of Vehicle for self \/business use-new\/second hand vehicle not more than 5 years old. ELIGIBILITY Individuals holding valid license. MAX.LOAN AMT. As per exposure norms. RATE OF INTEREST 8.25% p.a. at monthly rests for Two Wheeler. 7.75% p.a. at monthly rests for Four Wheeler.\u00a0 10.25% p.a. at monthly rests for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-158","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":4,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158\/revisions"}],"predecessor-version":[{"id":300,"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/pages\/158\/revisions\/300"}],"wp:attachment":[{"href":"https:\/\/gatewayinfotech.in\/jainbank\/wp-json\/wp\/v2\/media?parent=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}